Comments: Less than expected rains and/or less than expected forecast? I usually understand weather markets but +50cents November? Big fogs, big humidifies followed by warmer temps. (in 90’s but not parching) and more rains end of week might be the reason November stopped just under its last week’s high of $14.09; will back off futures’ rec’s but will look to add near the money puts (futures risk extremely arbitrary as is typical); open interest says funds are committed new buyers with it up 9,100 amid moderate volume….and the C-O-T report was decidedly bearish (huge change of commercial shorts); curiously CPO futures lower on U.S. rains apparently; IGC says Brazil’s new crop plantings could be up 5% to new record; soyoil deliveries 344.

Kleist Comments

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